Read on Twitter
1/8
As I said on Friday, the likes of #IES are true wildcards in the whole #BMN energy storage/vanadium play.
Well jump forward a few days and it looks like IES have landed themselves a really big fish in the form of Siemens Gamesa RE (SGRE).
#BMN https://twitter.com/BigBiteNow/status/1390672323812933634?s=20
As I said on Friday, the likes of #IES are true wildcards in the whole #BMN energy storage/vanadium play.
Well jump forward a few days and it looks like IES have landed themselves a really big fish in the form of Siemens Gamesa RE (SGRE).
#BMN https://twitter.com/BigBiteNow/status/1390672323812933634?s=20
2/
From SGRE Q2 2021 results,
"Record order backlog of €33.7bn and record order intake of €5.5bn in Q2 21."
This amounts to some 10GW of onshore/offshore gride scale renewables.
https://www.siemensgamesa.com/en-int/-/media/siemensgamesa/downloads/en/investors-and-shareholders/periodic-information/2021/q2/q2-results-presentation-fiscal-year-2021-siemens-gamesa-en.pdf?la=en-bz&hash=5FFF23CB98B832230FE0B61F723C7D4F0C35E74C
From SGRE Q2 2021 results,
"Record order backlog of €33.7bn and record order intake of €5.5bn in Q2 21."
This amounts to some 10GW of onshore/offshore gride scale renewables.
https://www.siemensgamesa.com/en-int/-/media/siemensgamesa/downloads/en/investors-and-shareholders/periodic-information/2021/q2/q2-results-presentation-fiscal-year-2021-siemens-gamesa-en.pdf?la=en-bz&hash=5FFF23CB98B832230FE0B61F723C7D4F0C35E74C
3/
Today's deal is a 2-year development JV to not only
"jointly develop a grid-scale vanadium flow battery,"
but then to "cooperatively manufacture the VFB" (so scale) and "commercialize the VFB through each company's sales channels."
Today's deal is a 2-year development JV to not only
"jointly develop a grid-scale vanadium flow battery,"
but then to "cooperatively manufacture the VFB" (so scale) and "commercialize the VFB through each company's sales channels."
4/
This deal is a huge boost for VFBs their take up and their acceptance by the market.
Even a limited 10% successful roll out through Siemens own sales pipeline (1GW) would deliver c. 17,000 mtV in vanadium demand.
See here. https://www.bbnbigbitenow.com/post/do-newly-announced-chinese-projects-add-pressure-to-an-already-strained-vanadium-market
This deal is a huge boost for VFBs their take up and their acceptance by the market.
Even a limited 10% successful roll out through Siemens own sales pipeline (1GW) would deliver c. 17,000 mtV in vanadium demand.
See here. https://www.bbnbigbitenow.com/post/do-newly-announced-chinese-projects-add-pressure-to-an-already-strained-vanadium-market
5/
That's c. 15% of the total world vanadium supply in 2020 based on info stated below.
I will say this now, SGRE doesn't look like the sort of entity that invests in such ventures just to bring 1MW projects to market.
When they say grid-scale then they really do mean it.
That's c. 15% of the total world vanadium supply in 2020 based on info stated below.
I will say this now, SGRE doesn't look like the sort of entity that invests in such ventures just to bring 1MW projects to market.
When they say grid-scale then they really do mean it.
6/
BMN is not due to benefit directly from this deal yet.
However, its close connections to IES and its own vanadium rental partnership set up with IES (VERL) will surely be involved at some point.
Such a significant move for VRBs requires guaranteed
vanadium supply at a...
BMN is not due to benefit directly from this deal yet.
However, its close connections to IES and its own vanadium rental partnership set up with IES (VERL) will surely be involved at some point.
Such a significant move for VRBs requires guaranteed
vanadium supply at a...
7/
fair price and likely lots of it (see example above).
So Siemens due diligence must have demonstrated that significant enough quantities of it will be available.
BMN clearly have IES back and so combined, they represent a compelling set up for an entity wishing to
fair price and likely lots of it (see example above).
So Siemens due diligence must have demonstrated that significant enough quantities of it will be available.
BMN clearly have IES back and so combined, they represent a compelling set up for an entity wishing to
8/
enter the VFBs at grid scale.
BMN has the resource and is already expanding into the expected demand and IES along with SGRE just gave them a very good reason to keep on doing so.
Like I say, IES, likely BMN and the whole vanadium market, just caught a really big VFB fish.
enter the VFBs at grid scale.
BMN has the resource and is already expanding into the expected demand and IES along with SGRE just gave them a very good reason to keep on doing so.
Like I say, IES, likely BMN and the whole vanadium market, just caught a really big VFB fish.
